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Investments
 3 Months Ended
Sep. 29, 2024
Investments, Debt and Equity Securities [Abstract]  
Investments Investments
(in millions of U.S. Dollars)
September 29, 2024
 Amortized CostGross Unrealized GainsGross Unrealized LossesCredit Loss AllowanceEstimated Fair Value
U.S. treasury securities$468.3 $0.9 ($0.1)$— $469.1 
Corporate bonds378.9 1.3 (3.3)— 376.9 
Municipal bonds89.3 0.3 (1.0)— 88.6 
Certificates of deposit17.0 — — — 17.0 
Commercial paper9.9 — — — 9.9 
Total short-term investments$963.4 $2.5 ($4.4)$— $961.5 
 June 30, 2024
(in millions of U.S. Dollars)
Amortized CostGross Unrealized GainsGross Unrealized LossesCredit Loss AllowanceEstimated Fair Value
U.S. treasury securities$553.3 $— ($0.6)$— $552.7 
Corporate bonds423.5 0.2 (6.7)— 417.0 
Municipal bonds102.8 — (2.0)— 100.8 
Certificates of deposit31.5 — — — 31.5 
Commercial paper16.7 — — — 16.7 
U.S. agency securities10.0 — — — 10.0 
Total short-term investments$1,137.8 $0.2 ($9.3)$— $1,128.7 
All short-term investments are classified as available-for-sale. The following tables present the gross unrealized losses and estimated fair value of the Company’s short-term investments, aggregated by investment type and the length of time that individual securities have been in a continuous unrealized loss position (in millions of U.S. Dollars):
September 29, 2024
Less than 12 MonthsGreater than 12 MonthsTotal
Fair ValueUnrealized LossFair ValueUnrealized LossFair ValueUnrealized Loss
Corporate bonds$9.2 $— $161.7 ($3.3)$170.9 ($3.3)
U.S. treasury securities19.9 — 5.9 (0.1)25.8 (0.1)
Municipal bonds2.5 — 67.7 (1.0)70.2 (1.0)
Total$31.6 $— $235.3 ($4.4)$266.9 ($4.4)
Number of securities with an unrealized loss68 44 112 
June 30, 2024
Less than 12 MonthsGreater than 12 MonthsTotal
Fair ValueUnrealized LossFair ValueUnrealized LossFair ValueUnrealized Loss
Corporate bonds$135.2 ($0.2)$183.4 ($6.5)$318.6 ($6.7)
U.S. treasury securities507.4 (0.4)35.9 (0.2)543.3 (0.6)
Municipal bonds9.0 — 74.3 (2.0)83.3 (2.0)
U.S. agency securities14.9 — 10.0 — 24.9 — 
Total$666.5 ($0.6)$303.6 ($8.7)$970.1 ($9.3)
Number of securities with an unrealized loss141 66 207 
The Company does not include accrued interest in estimated fair values of short-term investments and does not record an allowance for credit losses on receivables related to accrued interest. Accrued interest receivable was $10.7 million and $11.6 million as of September 29, 2024 and June 30, 2024, respectively, and is recorded in other current assets on the consolidated balance sheets. When necessary, write-offs of noncollectable interest income are recorded as a reversal to interest income. There were no write-offs of noncollectable interest income during the three months ended September 29, 2024 and September 24, 2023.
The Company evaluates its investments for expected credit losses. The Company believes it is able to and intends to hold each of the investments held with an unrealized loss as of September 29, 2024 until the investments fully recover in market value. No allowance for credit losses was recorded as of September 29, 2024.
The contractual maturities of short-term investments as of September 29, 2024 were as follows:

 
(in millions of U.S. Dollars)Within One YearAfter One, Within Five YearsAfter Ten YearsTotal
U.S. treasury securities$444.2 $24.9 $— $469.1 
Corporate bonds274.7 102.2 — 376.9 
Municipal bonds41.2 45.0 2.4 88.6 
Certificates of deposit17.0 — — 17.0 
Commercial paper9.9 — — 9.9 
Total short-term investments$787.0 $172.1 $2.4 $961.5